Lemminkäinen and YIT will complete the merger
- Stock Exchange Releases
- 10/19/2012
Comparison figures adjusted due to the divestment of the concrete business
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 19 OCTOBER 2012 AT 2.00 P.M. COMPARISON FIGURES ADJUSTED DUE TO THE DIVESTMENT OF THE CONCRETE BUSINESS Lemminkäinen completed the divestment of its concrete business to Rudus on 28 September 2012. In this transaction, the entire stock of Lemminkäinen Rakennustuotteet Oy was transferred to Rudus. The transaction price was EUR 55 million, from which Lemminkäinen will recognise capital gains of EUR 17.1 million in the third quarter of
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 19 OCTOBER 2012 AT 2.00 P.M.
COMPARISON FIGURES ADJUSTED DUE TO THE DIVESTMENT OF THE CONCRETE BUSINESS
Lemminkäinen completed the divestment of its concrete business to Rudus on 28 September 2012. In this transaction, the entire stock of Lemminkäinen Rakennustuotteet Oy was transferred to Rudus. The transaction price was EUR 55 million, from which Lemminkäinen will recognise capital gains of EUR 17.1 million in the third quarter of 2012.
On 31 January 2011, Lemminkäinen sold its roofing business, recognising capital gains of EUR 17.1 million before taxes in the first quarter of 2011.
The sold businesses are classified as discontinued operations. Consequently, the figures for the comparison periods will also be adjusted. Revised figures for 2011 and the first half of 2012 are presented below.
Lemminkäinen will publish its interim report for January-September 2012 at 8:00 a.m. on Thursday, 1 November 2012. The adjustments due to the divestment of the concrete business have no effect on the profit guidance presented in the company's interim report for 1-6/2012. Lemminkäinen will keep its profit guidance intact. The company estimates that its 2012 net sales will remain at the same level as in 2011, and that its pre-tax profit will improve on 2011.
ADJUSTED FIGURES BY REVIEW PERIOD
| EUR million |
1-3/ 2011 |
1-6/ 2011 |
1-9/ 2011 |
1-12/ 2011 |
| Net sales | 301.3 | 826.6 | 1,548.7 | 2,183.9 |
| Operating profit | -27.0 | -11.5 | 36.3 | 44.0 |
| Operating margin, % | -9.0 | -1.4 | 2.3 | 2.0 |
| Pre-tax profit/loss | -29.0 | -18.1 | 23.6 | 25.0 |
| Profit/loss from continuing operations |
-22.3 |
-13.7 |
18.4 |
17.1 |
| Profit/loss from discontinued operations |
-2.0 |
1.6 |
4.5 |
5.8 |
| Capital gains from the sale of discontinued operations |
12.7 |
12.7 |
12.7 |
12.7 |
| Profit/loss for the review period | -11.7 | 0.6 | 35.6 | 35.6 |
| Earnings per share, EUR | ||||
| From continuing operations | -1.14 | -0.70 | 0.92 | 0.83 |
| From discontinued operations | 0.54 | 0.73 | 0.88 | 0.94 |
|
From the profit/loss for the review period |
-0.59 |
0.03 |
1.80 |
1.77 |
| EUR million |
1-3/ 2012 |
1-6/ 2012 |
| Net sales | 315.4 | 882.4 |
| Operating profit | -21.6 | -13.9 |
| Operating margin, % | -6.9 | -1.6 |
| Pre-tax profit | -24.3 | -22.3 |
| Profit/loss from continuing operations |
-20.0 |
-19.0 |
| Profit/loss from discontinued operations |
0.0 |
2.5 |
| Profit/loss for the review period | -20.0 | -16.5 |
| Earnings per share, EUR | ||
| From continuing operations | -1.02 | -1.02 |
| From discontinued operations | 0.00 | 0.12 |
|
From the profit/loss for the review period |
-1.02 |
-0.90 |
ADJUSTED FIGURES BY QUARTER
| EUR million |
1-3/ 2011 |
4-6/ 2011 |
7-9/ 2011 |
10-12/ 2011 |
| Net sales | 301.3 | 525.2 | 722.1 | 635.2 |
| Operating profit | -27.0 | 15.6 | 47.8 | 7.7 |
| Operating margin % | -9.0 | 3.0 | 6.6 | 1.2 |
| Pre-tax profit | -29.0 | 11.0 | 41.7 | 1.4 |
| Profit/loss from continuing operations |
-22.3 |
8.7 |
32.1 |
-1.3 |
| Profit/loss from discontinued operations |
-2.0 |
3.6 |
2.9 |
1.3 |
| Capital gains from the sale of discontinued operations |
12.7 |
|||
| Profit/loss for the review period | -11.7 | 12.3 | 35.0 | -0.1 |
| Earnings per share, EUR | ||||
| From continuing operations | -1.14 | 0.44 | 1.62 | -0.09 |
| From discontinued operations | 0.54 | 0.19 | 0.15 | 0.06 |
|
From the profit/loss for the review period |
-0.59 |
0.63 |
1.76 |
-0.03 |
| EUR million |
1-3/ 2012 |
4-6/ 2012 |
| Net sales | 315.4 | 567.0 |
| Operating profit | -21.6 | 7.7 |
| Operating margin, % | -6.9 | 1.4 |
| Pre-tax profit | -24.3 | 2.0 |
| Profit/loss from continuing operations |
-20.0 |
1.0 |
| Profit/loss from discontinued operations |
0.0 |
2.4 |
| Profit/loss for the period |
-20.0 |
3.5 |
| Earnings per share, EUR | ||
| From continuing operations | -1.02 | 0.00 |
| From discontinued operations | 0.00 | 0.12 |
|
From the profit/loss for the review period |
-1.02 |
0.12 |
LEMMINKÄINEN CORPORATION
Corporate Communications
ADDITIONAL INFORMATION:
Robert Öhman, CFO
Lemminkäinen Corporation
Tel. +358 40 540 0741
robert.ohman@lemminkainen.com
Katri Sundström, Vice President, Investor Relations
Lemminkäinen Corporation
Tel. +358 400 976 333
katri.sundstrom@lemminkainen.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.lemminkainen.com
Lemminkäinen Group operates in all areas of the construction sector. The Group's operations are organised into four business segments: building construction, infrastructure construction, technical building services and international operations. Net sales in 2011 were about EUR 2.2 billion, of which international operations accounted for roughly a third. The Group employs 8,000 people on average. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com